I was the colts in a recent mock on another board. I was trying to go BPA for most of the picks. Here is the result minus the last comp pick ( which we have not reached yet). Should note that the extra 4th came from trading Freeney.

Colts
1) Andrew Luck QB Stanford - Easy pick
2) Kendell Reyes, DT, UConn - I wanted Worthy here for a NT but the Rams took him the pick before. BPA was Reyes who will be a great 5 technique DE.
3) Ladarius Green, TE, Louisiana-Lafayette - Green is a fast and athletic TE. Wanted to add some weapons for Luck.
4) Trenton Robinson FS Mich St. - Safety class is weak and Robinson was a good value at this point.
4b) Omar Bolden CB Arizona St. - I read on this board where people were not very happy with their CBs. Another good value pick.
5) Hebron Fangupo, NT, BYU - Not my first, second or even fourth choice for NT but he will do well in a 2 gap system. Problem is his age.
5b) DeVier Posey, WR, Ohio St - WR class is so deep in this draft. Posey is a great route runner and will do well in the NFL. Not a game breaker but a solid position WR.
6) Chris Greenwood CB Albion - My guy. Small college prospect with athleticism off the charts ( 43" vertical jump, 4.38 speed, 11'02" broad jump). Big CB at 6'1. If he works out he will be a press-man shut down corner.
6b) Josh LeRibeus OG SMU - Value pick. no way he is here in the real draft. Goes in round 3-4.
7) Alex Hoffman-Ellis LB Washington St. - Another very good value pick to convert to ILB. very explosive. _________________
"You build with draft choices. You find people with talents adaptable to your plans and then you teach them to do things the way we do them." - Chuck Noll